BTC is currently trading within a narrow range of $76,000 to $79,000, with bulls and bears engaged in a highly intense battle. The two main variables driving today's market are: tonight's Federal Reserve FOMC interest rate decision, with the market expecting no change at 3.50%-3.75%. The real focus of the debate is on Powell's tone and wording. From a capital perspective: after nine consecutive trading days of net inflows, spot ETF experienced a large outflow of about $263 million on April 27, ending this trend.

On the technical side, the daily bullish structure remains, but momentum is waning. On the 4-hour chart, MACD shows a death cross, green volume bars are increasing, Bollinger Bands are opening downward, and the price is moving along the middle to lower band, indicating a short-term correction; volume rebound is shrinking, with falling volume during pullbacks, high-level capital divergence, and weak willingness to chase highs.

Trading suggestion: The 757 support level has not been effectively broken. Short-term, consider buying on dips. The 75,700 to 76,200 range is bullish in the short term, with a target of 77,500.